All articles by Grant Collinson
Grant Collinson
European leasing up 12% year-on-year
European equipment leasing grew 12% in 2011, with new business volume reported by Leaseurope members totalling 224bn for the year compared to 200bn in 2010. As with the half-year figures published by the European leasing trade body, the inclusion of figures from the Russian industry helped push up growth Without figures from the United Leasing Association of Russia (ULA), which became a Leaseurope member in 2011, European growth was 6% year-on-year.
UTB drops broker rate 1% to land prime business
United Trust Bank (UTB) has cut 1% from its most competitive asset finance rate available for brokers in the UK, in a bid to target more prime deals. UTB’s head of Asset Finance, Martin Nixon, who was appointed to the role a year ago with a mandate to boost the bank;s asset finance offering, told Leasing Life the move was designed to attract leasing brokers who are doing more prime lending.
UK leasing needs one voice – FLA
The UKs Finance & Leasing Association (FLA) has reiterated its commitment representing the leasing and asset finance industry in response to the potential formation of another organisation. McDonnell said there was room in the UK leasing industry for a not-for-profit membership organisation, geared towards social events and research, and added the idea was in part a response to the increasing popularity of the Cordoba Groups bi-annual leasing lunches.
Second UK leasing trade body mooted
Addressing a gathering of UK leasing and asset finance industry professionals, Peter McDonnell, chief executive of Cordoba Group, has suggested forming a not-for-profit organisation complimentary to the Finance & Leasing Association (FLA). The idea was in part a response to the increasing popularity of the Cordoba Groups bi-annual leasing lunches and McDonnell said it might be time to formalise the gatherings and include guest speakers
2012 European leasing survey now open
The two organising bodies have invited all European leasing industry professionals to take part and the findings will help to assess how the current economic turmoil has affected the leasing market in Europe in since January as well as taking a look ahead to the second half of the year.
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Fleet Friday: VW, SME insurance, managing risk
The head of Volkswagen in Ireland has called for greater government support of the automotive industry and said vehicle finance can help boost the sector and the countrys ailing economy.
Baldock leaves Lombard
Alexander Baldock is to step down as managing director of Lombard, the asset finance arm of the Royal Bank of Scotland. Baldock has held the top role at Lombard since 2008 and will move to home shopping company Shop Direct Group as chief executive in September this year where he replaces Mark Newton-Jones.
Make hay while the sun shines
Mercedes-Benz Financial Services has taken advantage of favourable market conditions and the absence of bank-backed competitors to double its business volume over the past two years And its director of commercial vehicles says hes not about to take his foot off the gas any time soon.
BNP Paribas tops leasing table for 3rd year running
BNP Paribas Equipment Solutions has topped the table for leasing in Europe for the third year in a row. The leasing arm of the France-based bank was ranked number one in the Leaseurope Ranking for 2011 based on the value of new contracts signed during the year. The top-10 was dominated by bank-owned lessors, with the exception of independent fleet lessor LeasePlan, placed tenth, and Volkswagen Leasing which took the second spot
Leasing could be included in latest Treasury scheme
Speaking alongside the Governor of the Bank of England, Sir Mervyn King, Osborne announced a further credit scheme in reaction to the continuing European debt storm at the annual Lord Mayors Mansion House dinner on 14 June. Through the funding for lending scheme, a joint programme between the Treasury and the BoE, the UKs central bank will make funding available to banks in form of loans lent below market value.